The event must be such as to render it impossible for

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Unformatted text preview: 7 REQUIREMENTS: (Nakpil and Sons vs. CA): 1. The cause of the breach of the obligation must be independent of the will of the debtor 2. The event must be either unforeseeable or unavoidable 3. The event must be such as to render it impossible for the debtor to fulfill his obligation in a normal manner 4. The debtor must be free from any participation in, or aggravation of injury to the creditor RULE ON FORTUITOUS EVENT: • GENERAL RULE: No liability for fortuitous event • EXCEPTIONS: 1. When expressly declared by law ( bad faith, subject matter is generic, debtor is in delay ) 2. When expressly declared by stipulation or contract 3. When nature of obligation requires assumption of risk 4. When the obligor is in default or has promised to deliver the same thing to two or more persons who do not have the same interest (Art. 1165[3]) EFFECT OF FORTUITOUS EVENT Determinate Generic Obligation Obligation is not Obligation is Obligation extinguished extinguished based on the rule that the genus never perishes (genus nunquam peruit) Art. 1176 The receipt of the principal by the creditor, without reservation with respect to the interest, shall give rise to the presumption that said interest has been paid. The receipt of a later installment of a debt without reservation as to prior installments, shall likewise raise the presumption that such installments have been paid. PRINCIPLE IN ARTICLE 1176 • Before the presumption that a prior installment had been paid may arise, the receipt must specify the installment for which payment is made. QuickTime™ and a TIFF (Uncompressed) decompressor are needed to see this picture. Art. 1177 The creditors, after having pursued the property in possession of the debtor to satisfy their claims, may exercise all rights and bring all the actions of the latter for the same purpose, save those which are inherent in his person; they may also impugn the acts which the debtor may have done to defraud them. (1111) Art. 1178 Subject to the laws, all rights acquired in virtue of an obligation are transmissible, if there...
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This document was uploaded on 02/18/2014 for the course ACC 2001 at Alabama Christian Academy.

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